September, 2016

• 21 September

  Obama urges 50 nations to take in 360,000 refugees

  

    United Nations / AFP US President Barack Obama urged countries to “welcome the stranger in our midst” at a summit that drew pledges from 50 countries to take in 360,000 refugees. Speaking at a US-led refugee summit at the United Nations, Obama praised Germany and Canada among other countries for opening up their doors to those fleeing the war ...

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• 21 September

  BoJ overhauls policy to boost inflation

  

    Tokyo / AFP Japan’s central bank on Wednesday unveiled a surprise overhaul of monetary policy, promising to redouble attempts to fuel inflation and kickstart the torpid economy. After a hotly anticipated meeting, the Bank of Japan said it would set a target for 10-year government bond yields to try to push them higher, while delaying a further cut in ...

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• 21 September

  China’s PSBC raises $7.4bn in Hong Kong IPO

  

    Hong Kong / AFP Postal Savings Bank of China (PSBC) is set to raise $7.4 billion in its Hong Kong initial public offering, which is expected to be the world’s biggest flotation this year, reports said Wednesday. The listing is also poised to be the biggest since Chinese internet giant Alibaba floated in New York in 2014, raising $25 billion. ...

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• 21 September

  HSBC: EU banks to cope with Basel capital revamp

  

  Bloomberg New global banking rules are set to be “heavily watered down” to a level banks European can manage without major capital raising, according to HSBC Holdings Plc analysts. The revamp of the capital framework under discussion at the Basel Committee on Banking Supervision will probably boost capital requirements by less than 10 percent when implemented in Europe, allowing banks ...

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• 21 September

  Goldman romps past JPMorgan in Wall Street battle of ETF newbies

  

    Bloomberg Two of the financial industry’s biggest names — Goldman Sachs Group Inc. and JPMorgan Chase & Co. — are in the race for Wall Street supremacy in the $3 trillion global market for exchange-traded funds. Goldman Sachs won the first leg by pulling in a couple billion dollars in ETF assets in a year. But the competition is ...

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• 21 September

  ‘Philippines’ crime war a risk for economy’

  

    Manila / AFP President Rodrigo Duterte’s deadly war on crime is threatening the Philippines’ economy and endangering its democratic institutions, international credit rating agency Standard and Poor’s warned on Wednesday. S&P maintained its stable outlook for the Philippines, but highlighted a range of “weaknesses” under the new Duterte administration that also included his foreign policy and national security statements. ...

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• 21 September

  India mulls anti-dumping tax on more steel product imports

  

    Bloomberg India is considering expanding the basket of steel products that attracts an anti-dumping tax to stem inflows of cheaper supplies into the world’s third-biggest producer. The steel ministry is likely to levy anti-dumping taxes on some of the 66 products that are currently covered by the minimum import price rule before it expires on Oct. 4, Steel Secretary ...

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• 21 September

  200 killed in China chemical accidents: Greenpeace

  

    Beijing / AFP Chemical accidents have killed nearly 200 people in China so far this year, environmental group Greenpeace said Wednesday, calling on Beijing to overhaul the “appallingly under-regulated” industry. Industrial accidents are common in China, where work safety regulations are often flouted. In the first eight months of the year, China saw 232 chemical accidents which killed 199 ...

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• 21 September

  Samsung suffers backlash over smartphone response in China

  

    Beijing / AP Liu Jingtang was a Samsung loyalist. The Shanghai technology consultant traded up steadily through its smartphones to the new Note 7. But Liu’s devotion was shaken by the Korean tech giant’s confusing response to its latest product safety scare. Liu, 32, said Samsung Electronics quickly confirmed his Note 7 wasn’t covered by a recall announced last ...

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• 21 September

  Investors ask German court for €8.2bn over VW’s ‘dieselgate’

  

    Frankfurt / AFP Volkswagen investors have filed 1,400 lawsuits seeking 8.2 billion euros in compensation from the car giant over its emissions cheating scandal, a German court said Wednesday, adding to a long list of legal woes for the embattled firm. Investors say the automaker failed to disclose details of the case in a timely way, leading them to ...

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